Mixed-Use Property with Creek
For Sale
$1,199,000
209 S Main ST, Salado, TX 76571
Leased commercial suites share the property with two residential-style accommodations and outdoor gathering areas.
Property Size3,295 SF
Lot Size0.57 Acres
Price / SF$363.88
Days on Market67
Property Features for 209 S Main ST
General Information
Standard status
Active
Size
3,295 SF
Lot size
0.57 Acres
Property subtype
Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,426
Amenities
covered porches
covered deck
gazebo deck
stone walkway
dedicated parking
event-friendly concrete patio
private Salado Creek frontage
Building Details
Building Size
3,295 SF
Year Built
1987
Tenancy
Multi
Listing Agency:
Serhant Texas, LLC
Listed By:
Ella Moody
(678) 943-6856
Source:
Baerealty
Added: Jul 24
Changed: Sep 26
Last Checked: Sep 26 at 3:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Serhant Texas, LLC
Investment Insights
Based on property information with market context.
This mixed-use property contains 3,295 square feet of office and retail space, along with additional storage and utility areas. Leases are in place across boutique, salon, office, and massage suites, with rent escalations built into the agreements. A separate upper suite has two bedrooms, a bathroom, kitchen, and living area; the gazebo suite includes one bedroom and a bathroom. Updates include newer siding, exterior paint, and HVAC systems, and the property connects to city sewer.
Set on 0.57 acres along Main Street in Salado, the site has approximately 100 feet of private frontage on Salado Creek. Outdoor features include covered porches, a covered deck, a gazebo deck, a stone walkway, dedicated parking, and a concrete patio. Barrow Brewing is across the creek, and the village is just off I-35. The property is designated Historic Salado Site 18.
Set on 0.57 acres along Main Street in Salado, the site has approximately 100 feet of private frontage on Salado Creek. Outdoor features include covered porches, a covered deck, a gazebo deck, a stone walkway, dedicated parking, and a concrete patio. Barrow Brewing is across the creek, and the village is just off I-35. The property is designated Historic Salado Site 18.
Key Highlights
- 3,295 square feet of office and retail space, plus storage and utility areas
- 0.57 acres with +/- 100 feet of private Salado Creek frontage
- Leased suites for boutique, salon, office, and massage uses; rent escalations are in place
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,632
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$892,640
$892.6K
Cap Rate 7%
$637,600
$637.6K
Cap Rate 9%
$495,911
$495.9K
Market Conditions
NOI Build-Up for 3,295 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.6K $20.52/SF
− Vacancy
−$3.9K −$1.17/SF
EGI
$63.8K $19.35/SF
− OpEx
−$19.1K −$5.81/SF
NOI
$44.6K $13.55/SF
Area
Bell County, TX
Vacancy
5.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$892,640
Cap Rate 7%
$637,600
Cap Rate 9%
$495,911
Alternative Uses
Best Use
Retail
$637.6K
$557.9K – $743.9K
NOI $44,632 @ 7.0% cap · market cap 3.72%
Second Best
Mixed Use
$476.6K
$417.0K – $556.0K
NOI $33,362 @ 7.0% cap · market cap 2.78%
Theoretical Best
Multifamily LT 5
$36.78M
$32.19M – $42.91M
NOI $2,574,884 @ 7.0% cap · market cap 214.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
42k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 30%
CEFCO
Shops & Services
22,966 visits/mo
0.4 miles
Bush's Chicken
Dining
6,097 visits/mo
0.5 miles
Cadence Bank
Shops & Services
5,036 visits/mo
0.2 miles
SUBWAY
Dining
3,376 visits/mo
0.4 miles
Domino's Pizza
Dining
2,933 visits/mo
0.2 miles
Demographics for 76571, TX
8,937
Population
3,742
Households
2.4
Avg Household Size
45
Median Age
41%
College-Educated
94%
High-School Grad
125.0 sq mi
ZIP Area
71
Density / Sq Mi
$103,341
Median Household Income
$55,545
Median Earnings
$1,172
Median Rent
$395,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Leased commercial suites share the property with two residential-style accommodations and outdoor gathering areas.
Where is this mixed-use property located?
The property is located at 209 S Main ST Salado, TX.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 3,295 square feet of office and retail space, plus storage and utility areas; 0.57 acres with +/- 100 feet of private Salado Creek frontage; Leased suites for boutique, salon, office, and massage uses; rent escalations are in place
